News & Blog

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News & Blog

Our expert faculty are frequent contributors to consumer-based media as well as to more scholarly academic publications. Keep current with recent developments in the retirement income planning field and check out the latest articles from the thought leaders who are part of the The American College New York Life Center for Retirement Income.

Individual Retirement Accounts (IRAs) have become the go-to vehicles for holding retirement assets in the United States. In fact, IRAs now house more wealth in 2018 than all 401(k) accounts. IRAs represent about one-third of the entire U.S. retirement market, totaling over $9.3 trillion by the end of June 2018.

December 31 not only represents the end of the calendar year, but it also represents a trigger point for many people to engage in planning, goal setting, and preparing for a new year. One area of our lives that can certainly benefit from an end-of-year boost is our financial planning.

While your financial planning and wellness is an ongoing process, certain times of the year represent smart times to plan. As the year winds down and the calendar year closes out, consider kicking your financial planning up a notch by taking advantage of some strategic end-of-year planning strategies.

While traditional stand-alone long-term care insurance (LTC) products have seen a drop in popularity in the past several years as a result of companies leaving the marketplace and of spiraling policy premiums, life insurance-backed long-term care financing strategies have experienced tremendous growth.

Life insurance is a fundamental risk management tool for a secure financial lifestyle. Primarily, it functions as an income replacement insurance product during an individual’s working years. In many cases, life insurance is set up to provide financial security for family members or to pay off liabilities in the event of an untimely and premature death.

In my book, “Rewirement: Rewiring the Way You Think About Retirement,” I lay out a detailed ten-step process that everyone can use while doing retirement income planning. This is also the same process that is taught to thousands of financial advisers in the Retirement Income Certified Professional education program.

The development and rollout of new standalone long-term care insurance products has been almost non-existent for a decade. Aiming to break that trend, New York Life Insurance Company recently rolled out a new and innovative long-term care insurance product.

One popular housing mantra that almost everyone is familiar with is “location, location, location.” This quote, often attributed to a British real estate tycoon named Lord Harold Samuel, has been used to express the notion that there is only one thing that is important when investing in real estate, and that is location.

The Tax Cuts and Jobs Act (TCJA), which was signed into law in December 2017 and began to take effect in 2018, created a new deduction for pass-through business owners. The deduction, called the 199A deduction, can in certain situations provide up to a 20 percent tax deduction on one’s qualified business income.

Elder financial abuse impacts millions of Americans each year, to an estimated tune of $2.9 billion annually. The financial exploitation of senior Americans is only going to continue to grow as scams targeting that segment of the population become more sophisticated.